Trump Imposes Tariffs on Additional $200B of Chinese Goods

President Trump on Monday said in an announcement that he imposed 10 percent tariffs on an additional $200 billion worth of Chinese goods, Fox News informed.

The tariffs will increase to 25 percent on Jan. 1 of next year. The President also mentioned that if the Chinese government imposes retaliatory measures he would slap tariffs on another $267 billion in imports.

“As President, it is my duty to protect the interests of working men and women, farmers, ranches, businesses, and our country itself,” Trump said in a statement. “My administration will not remain idle when those interests are under attack.”

If “phase three” of the tariff strategy is pursued, it would increase the total value of the affected Chinese goods to $517 billion, which is practically everything China sells to the United States.

The President has already slapped 25 percent tariffs on $50 billion in Chinese goods. China issued retaliatory measures, covering U.S. soybeans, among other goods, in a shot at the President’s supporters in the U.S. farm belt. Beijing also issued a warning saying that if Trump imposed more tariffs, they would slap an additional $60 billion in U.S. products.

The administration revealed that it had cut several items from the list of $200 billion in Chinese imports. The list includes child-safety products such as bicycle helmets but also it is a win for Apple Inc. and its customers, as their smart watches and other customer electronics products were removed from this list.

Nevertheless, the U.S. administration said that it is still open for negotiations with China.

“China has had many opportunities to fully address our concerns,” Trump said. “Once again, I urge China’s leaders to take swift action to end their country’s unfair trade practices.”

The problem comes as China is constantly trying to take over the the supremacy of U.S. in the field of technology.

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